Bitcoin's Exchange Supply Ratio on Binance has climbed to 0.0286, its highest level since September, while the cryptocurrency trades above $103,000. On-chain data show the Market Value to Realized Value ratio rose 4.35% to 1.8945, and the NVT Golden Cross surged 44.89% to -0.3245. The indicators point to strengthening network fundamentals and returning investor confidence.

BitMEX co-founder Arthur Hayes disclosed on November 7, 2025, that Zcash now represents his family office's second-largest liquid position behind Bitcoin. Hayes attributed the portfolio shift to ZEC's rapid price appreciation rather than active reallocation. By early November 9, the token traded in the mid-$600s while Bitcoin hovered around $105,000.

The U.S. Treasury and IRS issued guidance on November 10 permitting cryptocurrency exchange-traded products to stake proof-of-stake assets and distribute rewards to investors. Treasury Secretary Scott Bessent said the rules would enhance investor benefits and maintain America's leadership in digital asset technology. The safe harbor framework allows ETFs holding Ethereum and Solana to participate in staking through qualified custodians, with implementation expected by mid-2026.

The Internal Revenue Service issued guidance on Monday establishing a safe harbor framework that allows exchange-traded products to stake digital assets. Treasury Secretary Scott Bessent said the guidance provides ETPs with a clear pathway to stake digital assets and distribute staking rewards to retail investors.

The Bank of England announced stablecoin regulations on November 10, 2025, mandating issuers allocate up to 60% of reserves in short-term UK government bonds and at least 40% in central bank deposits. Individual holdings are capped at £20,000, while corporate entities face a £10 million limit. The rules aim to strengthen financial stability in the UK's digital asset sector ahead of implementation in 2026.

The U.S. Commodity Futures Trading Commission plans to authorize leveraged spot cryptocurrency trading on regulated domestic exchanges by December 2025. Acting Chair Caroline Pham confirmed the agency is in active discussions with major platforms including CME Group, Cboe Futures Exchange, and Coinbase Derivatives. The products will operate under existing commodities law oversight, focusing on Bitcoin and Ethereum.

BitMine Immersion Technologies disclosed holdings exceeding 3.5 million ETH valued at $12.3 billion, representing 2.9% of Ethereum's total supply and establishing the firm as the largest institutional Ethereum holder globally. In a separate development, Propanc Biopharma entered a securities purchase agreement with Hexstone Capital LLC for a private placement of up to $100 million in convertible preferred stock to fund digital asset acquisitions and cancer treatment research.

Federal Reserve Governor Stephen Miran stated on November 10, 2025, that he supports a 50 basis point interest rate reduction at the December FOMC meeting. Miran argued the economy requires faster monetary relief to prevent a slowdown. This marks his third consecutive call for a half-point cut after dissenting against 25 basis point reductions in September and October.